“We are pleased to work with Silicon Valley Bank and to expand our relationship with SetPoint,” said Timothy Herman, CEO of Upequity, in a statement. “The strong demand for our product reflects how well it meets the needs of our partners and customers. With this new facility we can help more customers with a smoother transition from their old house to the next.”
Upequity’s income has tripled annually since it started offering his solutions for “Buy Before You Sell” in October 2023, according to a press release from the company.
“With their innovative financing solutions and platform, Upefity real estate professionals helps to close considerably more transactions by resolving the challenge of buying and selling a house at the same time,” said Brian Foley, market manager for SVB’s Warehouse and Fintech Group.
“SVB is enthusiastic to work with upeity and to offer them the financial solutions they need to have their business scaled and grow.”
Kendall Ranjbaran, Managing Director of Investments at SetPoint, said that the company has supported the upcoming solutions with financing solutions since 2023 and the announcement of Wednesday “deepens” the partnership.
“Upeity gives homeowners a fast, streamlined path to their next house – unlocking equity and eliminating friction in the process,” he said.
